Istanbul Prosecutors Detain 26 in $72M Citizenship Fraud Probe
Investigation reveals 1,070 foreigners obtained Turkish citizenship through rigged property sales and fake valuations.
KEY POINTS
- 26 suspects arrested, 26 released under judicial control in Istanbul citizenship fraud case
- 1,070 foreigners obtained citizenship via $72.25M in fraudulent property deals
- Network used fake valuations and intermediary firms to bypass currency rules
- Authorities seized 2,011 properties, hotel, vehicles, yachts, and 30 companies
- Administrative process started to revoke citizenship of all 1,070 individuals
Istanbul prosecutors have detained 26 suspects in a coordinated operation across 13 provinces targeting an organized crime network accused of facilitating illegal citizenship acquisition. The investigation, led by the Organized Crime Bureau, found that 1,070 foreign nationals obtained Turkish citizenship through fraudulent property transactions valued at $72.25 million.
The suspects allegedly used intermediary companies and inflated expert valuations to disguise the true value of properties, circumventing the legal requirement for foreign currency inflows. Authorities determined that the required foreign exchange never actually entered Turkey in these cases.
Police seized 2,011 immovable properties, one hotel, 86 vehicles, two yachts, 42 bank accounts, and placed 30 anonymous companies under trusteeship. A total of 74 suspects were brought to the Istanbul Courthouse after raids.
Of the 52 suspects referred to court, 26 were arrested pending trial while the remaining 26 were released under judicial control. Administrative proceedings to revoke the citizenship of the 1,070 individuals have been initiated.
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